Altcoin
Ethereum Price Remains In Deep Correction As Standard Chartered Slashes ETH Target By 60%
Ethereum price is heading into a long-term correction driven by a wave of on-chain and fundamentals. Standard Chartered’s decision to ditch its Ethereum to $10K prediction is the latest in a series of negatives for the asset.
Ethereum Price Continues In Descending Channel
Recent price movements for Ethereum (ETH) are unpromising with analysts predicting a steeper drop for the asset. At the moment, Ethereum’s price hovers around $1,930 continuing its unenthusiastic ranging pattern.
The MACD indicator confirms widespread buying weakness for the second-largest cryptocurrency with bears reigning supreme. Moving averages are pointing to a neutral trend for Ethereum price, sparking theories over a possible consolidation for the asset.
“The price continues to move in a descending channel, indicating a possible continuation of consolidation,” said the pseudonymous LVelarde.
At the moment, the Ethereum price is consolidating below the 5-day and 200-day moving averages (MA) with traders scanning the horizon for a potential breakout or rejection. Since ETH fell below $2,000, a slew of dour sentiment has trailed the asset, casting doubt over its long-term future.
“In the short term, technical indicators point to a possible retest of support around $1,800-$1,850, and a break below could reinforce the bearish movement,” said LVelarde.
Standard Chartered Slashes Its ETH Prediction
Ethereum’s community was roiled by Standard Chartered’s reduction of its ETH prediction for 2025 from $10,000 to $4,000. According to a note, Standard Chartered analysts are predicting ETH will continue underperforming ahead of its 10th anniversary.
Analysts termed Ethereum’s decline as a “mid-life crisis” with layer 2 Base taking off $50 billion from ETH’s market capitalization. Meanwhile, the incoming Converge blockchain will snag a portion of Ethereum’s market cap as experts call for a radical change.
“Only a proactive change of commercial direction from the Ethereum Foundation – such as taxing layer 2 – could achieve that now, in our view,” read the note.
Ethereum ETFs have faltered with the inbound 21Shares liquidations of Bitcoin and Ethereum Futures ETFs. Experts say that Pectra activation on the mainnet can trigger a fresh rally for Ethereum price to a $5,000 valuation.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Amid the broader crypto market uncertainty, Dogecoin price has been showing strength flirting above the crucial support of $0.16 with increased address activity and heavy accumulation by DOGE whales. On-chain indicators and technical charts have both shown strength that could help the meme coin achieve new heights from here onwards.
Dogecoin Price Rally to $1 Begins?
Prominent crypto analyst Trader Tardigrade has highlighted a significant development in Dogecoin’s weekly chart. The latest candle closed as a doji, a pattern often interpreted as a signal of potential trend reversals.
As shown in the above image, the trend reversal can lead to a Dogecoin price recovery all the way to $1 and beyond. Drawing comparisons to historical patterns, Trader Tardigrade noted that a similar doji formation preceded the last major surge in DOGE price.
The current chart formations in DOGE have led to growing trader optimism. As long the meme coin holds the support at $0.16, the chances of the uptrend remain intact. As of press time, the Dogecoin price is trading 3.05% up at $0.1675 with daily trading volumes jumping 13% to more than $1.06 billion. Also, as per the Coinglass data, the options trading volume has surged 31% to more than $96 billion. Some market analysts have also been predicting a parabolic DOGE rally to more than $20.
DOGE Address Activity Sees Huge Spike
Amid the strong correction in the meme coin sector over the past two months, the Dogecoin price has also been subject to 37% value erosion on the monthly chart. However, at the current support levels, DOGE is seeing a huge spike in address activity. Blockchain analytics platform Santiment highlights a promising trend: the number of wallets holding at least 1 million DOGE has been on the rise, even as prices declined.
Additionally, Dogecoin’s active addresses have surged, reaching their highest levels in four months. This uptick in activity suggests a renewed interest among holders and traders, signaling potential resilience for the meme coin in a challenging market environment.
Note that DOGE will need a boost from the overall crypto market in order to support the uptrend. Also, any positive development around Dogecoin ETF could serve as an additional catalyst for further momentum.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
XRP price has formed a double-bottom pattern, a widely recognized bullish reversal signal. Analysts suggest this pattern has been confirmed, as the altcoin has broken above its neckline resistance. This development indicates strong buying pressure, which could push the Ripple token price toward the $30 mark.
Bullish Double Bottom Pattern Suggests XRP Price Could Reach $30
According to analyst Steph Is Crypto, XRP price has completed a double-bottom formation by breaking above the neckline resistance. This breakout is considered a strong bullish signal, indicating a potential rally. Historically, once this type of pattern is confirmed, prices tend to rise, with projections based on the pattern’s height extended from the breakout point.
The long-term chart of XRP price shows an extended accumulation phase, similar to previous bull cycles. The breakout above the neckline suggests strong buying momentum, potentially triggering an altcoin rally. Top analysts anticipate that if momentum sustains, XRP price could move towards its projected $30 target.
More so, XRP price breakout aligns with increasing trading volume, reinforcing the bullish outlook. A sustained increase in volume after a breakout often indicates institutional participation and growing investor confidence. Additionally, analysts highlight the absence of strong resistance between current levels and the projected target, making a sharp upward movement feasible.
Ripple Price Must Hold $2 Support Level
Additionally, crypto analyst Ali Martinez has pointed out that XRP price is also forming a head-and-shoulders pattern on its weekly chart. This pattern typically signals a trend reversal, with the $2 support level being crucial for maintaining an upward trajectory.
Martinez highlighted that if XRP price fails to hold above $2, it could face a decline to $1.25. Traders are closely monitoring this level, as a breakdown below it could lead to further downside pressure. However, if the support holds, XRP could continue its bullish trend and push towards the projected $30 target.
Altcoin Rally and Broader Market Trends
The broader cryptocurrency market trend is another factor influencing XRP price. Bitcoin’s performance and macroeconomic factors, such as the Federal Reserve’s policy decisions, could impact investor sentiment. A positive market environment could support an altcoin rally, benefiting XRP’s upward momentum.
According to CryptoQuant’s recent analysis, the rising demand for stablecoins is fueling an altcoin season. Experts believe this shift signals a strong rally for altcoins in the coming weeks.
The recent market correction has seen XRP price trading between $1.79 and $3.36. A rebound began in early March, with XRP closing the past week in green. At press time, Ripple token price was $2.34, reflecting a 1.95% increase in the last 24 hours.
Historical price trends suggest that XRP has undergone extended periods of accumulation before major bull cycles. This pattern appears to be repeating, with XRP price breaking above key resistance zones.
Adding to the bullish sentiments, Ripple filed a trademark for downloadable software to custody crypto assets. This move could push the altcoin toward the $5 mark in the coming months and probably cross the $30 price target.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Shiba Inu price has been facing a downturn over the past few months, dropping nearly 63% since December 2024. Despite this, a key metric has shown positive signs that may help the meme coin recover. Shiba Inu’s exchange reserve has recently reached an all-time low of 93.573 trillion tokens, marking a shift in investor behavior. This drop in exchange reserves suggests a reduction in selling pressure, which could help SHIB price break past key resistance levels.
Shiba Inu Price Targets $0.000081 as Exchange Reserves Hit Record Low
According to CryptoQuant data, Shiba Inu’s exchange reserve recently reached an all-time low of 93.573 trillion tokens. This represents just 15.88% of the circulating supply. The exchange reserve metric tracks the amount of SHIB held by major exchanges such as Binance, Coinbase, and Crypto.com. The drop in this reserve indicates that a large portion of SHIB is being moved off exchanges, likely to be held by long-term investors.
The decline in exchange reserves is often seen as a bullish signal. As investors withdraw their holdings from exchanges, the available supply of SHIB for sale decreases. This reduction in exchange liquidity can help reduce downward price pressure.
Market participants are increasingly confident in Shiba Inu’s future as seen by the continued withdrawals from exchanges despite the top meme coin recent losses.
Increased Long-Term Holders Suggest Stability
In addition to the drop in exchange reserves, Shiba Inu has seen an increase in the number of long-term holders. According to data from IntoTheBlock, long-term SHIB holders, defined as those holding the asset for at least a year, have surged to a new peak of 1.09 million addresses. This growing number of long-term holders is a positive sign for Shiba inu price stability.
The increase in long-term holders typically reduces sell pressure, as these investors are less likely to liquidate their positions during short-term market fluctuations. This change in investor behavior suggests that Shiba Inu price may experience greater stability in the future.
SHIB Price Prediction
Shiba Inu has been showing signs of recovery after reaching a support level of $0.00001201 on March 14, 2025. Since then, the price has rebounded by 10%, reaching $0.00001322. According to analyst Javon Marks, Shiba Inu price is eyeing a breakout target of $0.000081, a level that would represent a nearly 500% upside from current levels. To reach this target, SHIB must first overcome resistance levels, particularly around $0.00001380.
The reduced liquidity due to exchange withdrawals could provide the necessary conditions for a breakout. However, for this bullish scenario to materialize, the top meme coin must maintain strong momentum and avoid any retracement.
Moreover, another report supports the bullish sentiments with another analyst forecasting the top meme coin could experience a 2x to 3x rally in the coming weeks. With rising buying pressure and technical indicators favoring the bulls, SHIB’s potential to reach its target prices of $0.0000280 to $0.000032 could be realized within the next two months.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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